Ethereum ���smart’ Whales Open $426m Long Bets As ETH Price Chart...

ETH’s price rising to $3,000 drove whales to open 136,433 ETH long bets, as technical indicators suggest a short-term ETH price rally toward $4,000.

Ethereum whales have opened massive long positions on Ether (ETH), totalling $425.98 million, in what looks like a bold bet that the downside is over.

Ethereum whales opened leveraged long positions totaling $426 million.

Ether’s ascending triangle targets $4,030 ETH price.

Data from Cointelegraph Markets Pro and TradingView showed the ETH/USD pair trading at $3,140, 20% above the $2,621 low reached on Nov. 21.

Holding above $3,000, Ether offered some cause for optimism ahead of key volatility triggers.

Related: Vitalik Buterin floats gas futures on Ethereum to hedge fee spikes

A Fed rate cut decision is expected on Wednesday, and markets are pricing in a 25-basis-point rate cut.

As market participants waited for triggers, attention has shifted to three “smart” whales with impressive track records, who have opened long positions, totaling 136,433 ETH, worth about $425.98 million, according to data from Lookonchain.

One whale, BitcoinOG (1011short), has a long position of $169 million in ETH, while Anti-CZ has a long exposure of $194 million.

Source: CoinTelegraph